5 AI Tools for Planning Your Budget

Whether you're a finance professional or a business owner, these tools simplify financial management, allowing you to thrive in today's dynamic environment by making informed decisions using insights that are tailored to your financial goals. Let's dive into the AI-powered future of budget planning.

1. Cleo

• 24/7 Access to Financial Insights - Cleo's AI-powered assistant is available around the clock, allowing you to chat with it whenever you have financial questions or need insights.
• AI Budget Planner - Provides you with a free AI budget planner that tailors a budget plan to your unique financial situation.
• Monthly Bill Tracker and Payment Reminders - . The app sends you timely reminders about upcoming bills, ensuring you stay on top of your financial commitments.
• Spending Tracker - Cleo takes the hassle out of tracking your spending by categorizing your income and expenses.
• Overdraft Alerts: - The app monitors your account balance and notifies you when your funds are running low, helping you avoid costly overdraft charges.
• Roast and Hype Mode - Cleo offers unique ways to motivate and engage users. In "Roast" mode, Cleo provides humorous yet constructive feedback to help you exercise self-control and make better financial decisions. In "Hype" mode, Cleo provides light-hearted motivation and encouragement, making your financial journey more enjoyable.

Most of the features of this app are free for now.

2. PocketGuard

• Fraud Detection - PocketGuard works as a fraud detector once your bank account is connected. Ensures the security of your financial data.
• Spending Insights using AI - Visualize your financial health by seeing all your accounts and transactions in one place. Get a quick overview of your net worth.
• Bill Payment Tracker - Keep track of your recurring bills and expenses. Receive alerts and notifications for due dates and upcoming bills.
• Budgeting - Gain insights into your spending habits and create a realistic budget. Track your income and expenses to ensure you're spending less than you earn.
• Debt Payoff Plan using AI - Build a strategic plan to pay off your debts using methods like snowball or avalanche.

The basic version of PocketGuard is free. However, if you are looking to upgrade to PocketGuard Plus, it would set you back by $7.99/month

3. Rocket Money

• Manage Subscriptions - Automatically identifies and tracks your subscriptions and bills. Concierge service is available to cancel services on your behalf.
• Spending Insights - Track your spending across all accounts in one place. Receive notifications for important financial events.
• Bill Negotiation - Rocket Money waits on hold for you and negotiates your bills. Ensures you get the best rates available.
• Net Worth - Link all your assets and debts to gain a full financial picture. Monitor your financial journey and make improvements over time.
• Smart Savings - Activate autopilot to save money effortlessly. It learns your spending habits and saves at the right times, helping you avoid overdraft fees.

While most of the features of Rocket Money are free, you can get the premium version for $3 to $12/month depending on which plan works for you.

4. WallyGPT

• One Place for All Your Finances - It provides a centralized platform for managing all your financial accounts and transactions. Track spending, bills, budgets, and cash flow all in one place.
• Fully Automated - Connect your financial accounts and enjoy automated tracking of spending, upcoming bills, budgets, and cash flow.
• Powered by AI (Artificial Intelligence) - Utilize WallyGPT, an AI-powered personal finance assistant, for contextual insights, financial planning, goal setting, and financial education. Enhance your financial knowledge through AI guidance.
• Available Worldwide - Connect with over 15,000 banks in 70 countries to securely manage checking, savings, credit cards, loans, and investment accounts.

WallyGPT is completely free to use and gives you access to all its features in one go.

5. YNAB

• Real-Time Sync - Access YNAB on your computer, phone, or tablet, and your budget updates automatically and in real-time across devices.
• Bank-Grade Security - Data encryption, 2FA, and data centers that are accredited multiple times over.
• Ad-Free and Uncluttered - No popups, no third-party products in the app—just budgeting zen.
• Smart Categorization using AI - Your budget learns over time to make categorization a breeze.
• Spending & Net Worth Reports using AI - Eye candy (read: graphs and charts) make it fun to obsess over your progress. See your average grocery spend (down to the cent) and your growing wealth in full technicolor glory.
• Loan Calculator - Find more money for your debt with YNAB’s loan planner tool. We’ll calculate the interest and time saved for every extra dollar you put toward debt.
• Goal Tracking - Prioritize spending and savings goals with our powerful target-setting features, and track your progress at a glance.

You can get the monthly plan for this app for $14.99/month or take the annual subscription at $99 paid annually.

By harnessing these tools, you can finally rest easy while AI does your budgeting for you. It's that simple.

Top AI News

Here's a list of the top AI news from around the world:

• UK government outlines AI Safety Summit plans - The UK government plans the global AI Safety Summit on November 1-2, 2023, at Bletchley Park, aiming to address AI challenges and opportunities worldwide. The summit focuses on risk mitigation and collaboration in AI development, involving influential nations, technology organizations, academia, and civil society to ensure safe and beneficial AI growth.
• Basil Faruqui, BMC: Why DataOps needs orchestration to make it work -The operationalization of data projects is essential for digital transformation, yet many projects fail to reach production. Gartner warns that organizations without a sustainable data and analytics operationalization framework by 2024 could face significant setbacks. Good orchestration is key, with BMC Helix Control-M addressing the challenge.
• NCSC: Chatbot ‘prompt injection’ attacks pose a growing security risk -The UK's National Cyber Security Centre (NCSC) has issued a stark warning about the increasing vulnerability of chatbots to hacker manipulation. "Prompt injection" attacks, where malicious inputs manipulate chatbot behavior, pose serious risks, potentially resulting in offensive content, unauthorized access, or data breaches.
• Baidu deploys its ERNIE Bot generative AI to the public - Baidu has made its generative AI product, ERNIE Bot, available to the public via app stores and its website. ERNIE Bot generates text, images, and videos based on natural language input, leveraging Baidu's powerful ERNIE deep learning model.
• UK’s AI ecosystem to hit ￡2.4T by 2027, third in global race - UK's AI sector is projected to grow from ￡1.36 trillion to ￡2.4 trillion by 2027, maintaining its European AI leadership and ranking third globally. This growth is fueled by a robust workforce, government prioritization, and key AI hubs like London, Manchester, and Edinburgh.

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